₦airaland Forum

theoldpretender:
Well,if the cotton industry in the North is developed...that reduced dependence on oil money...which naturally would flow to the South

It would be like the good old days of the 1960's when each region relied on what it produced. Plus...it generates more jobs (a good chunk of which would be taken by Southerners anyway)

See you. Was oil money used to develop the cotton or textile industries the first time? Answer is NO and there is no reason to develop it with oil money a second time. Let all the billionaire their take from their oil proceeds and develop it. Has govt developed cocoa related resources that's housed by the south?

The debate is interesting and healthy. My take is (1) no nation leaves it door open for importation of all sorts, u either lock it with outright ban or high tariff. (2) you don't wait till the sector is strong b4 u ban importation, rather you ban importation to make a sector to grow andd be strong.(3) complete liberalization and deregulation is suicide but complete regulation and protectionism is folly.(3) local sale of refined petroleum products should be completely deregulated to stop importation of the product and so called subsidy which is killing the economy.(5) Discos are part of their problem, the first ting a firm considers is revenue inflow, the best way discos can achieve maximum revenue collection is by providing pre paid meter to all customers.(6) only after that can they be able to analyse total revenue/ service provided/ short fall in expected service delivery, if after the analysis it is empirically shown thhat current rate cannot sustain the effort to cover the gap in expected service delivery, they can the advocate for increase in rate or outright deregulation (7) discos need to put their house in order b4 blaming the public or govt (9) Nigeria is one country so growing cotton in the north enriches all of us not just the northerners. Thanksm

CodeTemplar:
Please mention one admin that wasn't preceded by corruption. This isn't corruption alone but an incompetent fellow hiding behind corruption to deliver mediocre performance.

Corruption breeds incompetence.

ZombieNation:
Niggers going to be picking cotton in Buhari's plantations.

Nigeria doesn't have enough arable land to meet current local cotton demands.

The textile mills are old and outdated and with current power supply from the grid, they will be highly cost ineffective against foreign competitions.

Tailor go get work plenty to dey patch your old clothes.

This is the best comment all day.

The importation of textile fabrics creates lots of jobs. Those textile fabrics will be turned into garments. The demand for textile fabrics is derived demand.

The Economist calls it the type of unflashy industrialisation that actually creates jobs. The importation of garments also creates jobs

It was once estimated that textile importation creates as many as 1m jobs

Jestin:
Before you place ban on importation, we should have enough locally produced products first

you cant have it enough until you talk about placing a ban. government is not supposed to be in the business of DOING BUSINESS. their job is to create the enabling environment for private sector to strive, monitor and regulate. i was told that necessity is the mother of invention. let (foreign and local) investors see the necessity and the investment opportunity in the sector for them to strive in.

look at this, if your a farmer in this country investing massively in RICE. and after harvest, you'll need to sale a bag of rice for at least 14k just to make a reasonable profit. and someone who embezzle money (effortlessly) will go to Thailand and import rice into the country and sale it at 9k per bag.
will you be encourage to continue in farming, how are you going to compete with such importer(is it an healthy competition) will people buy ur rice at 14k over the imported at 9k.

CodeTemplar:
Stop that. We have been down this military road before. Remember how OBJ kept preventing imports of certain products with the hope that it will spur local manufacturers. So what is Buhari doing different here. Nothing significant.
He is only going for textile because he knows it will favour the north as usual. All his first term moves where directed that way and it took a timely uproar among others for him to soften the pedal on it. He is back at this destructive north-first mago-mago diversification drive and you know it.

why are you so tribalistic

izuch:
This Is the kind of policy we need to grow our economy, everything will gradually fall into place, power supply will increase ( necessity is the mother of invention), domestic Cotton production will increase since the demand will increase. Job opportunities in cotton farming and textile industry will also increase, more revenue for the FG from taxes. The ban on foreign rice increased local production and created a lot of opportunities despite sabotage from daredevil smugglers. ( farming the rice, processing i.e de-stoneing and polishing the rice, domestic production of bags for the rice etc). Let us learn from other more successful countries like north Korea. Let us be optimistic and hope that this policy will do us good in the long run. I look forward to the day Nigeria will stop importing PMS and other allied products. A journey of a thousand miles begins with a single step, we must endure whatever hardship this ban will cause for us to create a better Nigeria. Nigeria will be great again.
LONG LIVE THE FEDERAL REPUBLIC OF NIGERIA!!!!

God bless you man

winnah:
why are you so tribalistic

??

grandstar:
This is the best comment all day.

The importation of textile fabrics creates lots of jobs. Those textile fabrics will be turned into garments. The demand for textile fabrics is derived demand.

The Economist calls it the type of unflashy industrialisation that actually creates jobs. The importation of garments also creates jobs

It was once estimated the textile importation creates as many as 1m jobs

China that is the number one garment and fabric producer in the world depends on cotton imports.

These idiots running this country to the ground have no clue

Obere4u:
Exchange rate doesn't really equate to strong economy.

It does.

ikennaf1:
It does.

It doesn't

theoldpretender:
DISCOS cannot make any improvements because they aren't earning enough cash.

OK...let me have someone explain it...



You see the problem.?

P.S...I have no link, nor do I work for any DISCO. I even had cause to have a dispute with them over metering of my former residence. I am a bill payer. I also read a lot.

They will never agree that they are making enough cash talk more of exhorbitant profits.
MTN have made more profits in Nigeria even with their generators compared to the profits made in their home country.
Those talks about gas line vandalisation will be hard for someone like me to believe. The reason being that I'm yet to hear of any black market for purchase of gas just like we have for crude.
More so I've been opportuned to do some survey jobs that involves pipelines and we've never come across any of such in the field.

mfm04622:
If you expect Nigeria to invest in refineries, you are still asleep! We know ourselves. Any investment in any asset will be stolen in the long run. Dangote and at least one other refinery will soon be online.

If that's the case, then I don't think we can do anything right without abusing it. Even this suppose ban on textiles import won't have a desirable outcome.

DeOTR:
If that's the case, then I don't think we can do anything right without abusing it. Even this suppose ban on textiles import won't have a desirable outcome.

It is not banned! You can legally import textile into Nigeria. You just cannot get forex from official source to buy your textile. Big difference! So you are forced to buy black market, which will increase your cost. CBN hope the increase will enable local textile manufacturers compete favourably with imported textiles.

mfm04622:
It is not banned! You can legally import textile into Nigeria. You just cannot get forex from official source to buy your textile. Big difference! So you are forced to buy black market, which will increase your cost. CBN hope the increase will enable local textile manufacturers compete favourably with imported textiles.

It's a waste of time. At the end of the day, you'll see locally made textiles doubling the foreign one in price.
If we want to reduce the pressure on our foreign reserve, we can start from my earlier suggestion or we should just leave everything as it is.
By the way, what's the difference in the official forex rate and that of the black market?
Like you already pointed out, expect an abuse of this policy.

It’s NOT a ban on imports of textiles.

The CBN is merely saying that it will not sell its forex to importers of textiles, and do they have to source their own forex.